Sound Transit
Finance Committee Summary Minutes
September 17, 1998
Call to Order
The meeting was called to order at 12:08 by Committee Chair Greg Nickels.
Attendance
(P) Greg Nickels, Chair (P) Paul Miller
(P) Mary Gates (A) Sid Morrison
(A) Ed Hansen (A) Cynthia Sullivan
(P) Rob McKenna
The following Committee members arrived after the meeting was called to order:
Rob McKenna, King County Councilmember
Mary Gates, City of Federal Way Councilmember
Report of the Chair
None.
Finance Director Report
Ms. Hendrickson, Director of Finance and Administration, advised the Committee that she had met with representatives from the State Auditors office and the results of the audit were “no findings.” They did have two recommendations, but were pleased that the agency was well prepared and in good order.
She then stated that the Performance Audit Committee had their first meeting. Discussion included reviewing the process to select the scope of work for the annual audit process. The committee identified two short-term performance audit scopes of work: (1) an internal control review of the contract change order process and (2) an internal control review of financial processes.
Ms. Hendrickson advised the Committee that the Monthly Finance Report for the month ending July 31 is complete (copy on file).
Citizen Oversight Panel Mid-Year Report
Mr. Steve Goldblatt, Chair, and Mr. Reid Shockey, Vice Chair, presented the Citizen Oversight Panel’s Mid-Year Report (copy on file).
(Mr. McKenna arrived.)
Mr. Nickels thanked the COP representatives for the excellent report. He encouraged the Panel to keep up the good work and asked that they include suggestions for areas identified as needing improvement.
Minutes of September 3, 1998
Mr. Nickels advised that there was not a quorum, so they could not approve September 3, 1998 Minutes.
Resolution No. R98-39 - Authorizing the development and implementation of a Business Support Program for small, local businesses and contractors and Minority/Women/and Disadvantaged Business Enterprise businesses and contractors to provide mentoring, accounting, management, and financial advice and technical assistance for such businesses and contractors involved in or desiring to be involved in a construction contract with Sound Transit
Action on this item was delayed, as a quorum of the Committee was not yet present.
Motion No. M98-72 – Amending Contract No. RTA/CR 24-97 with Mainline Management Inc., by increasing the budget for railroad operations modeling and capacity analysis for the Commuter Rail Project by $90,000 to $290,000
Action on this item was delayed, as a quorum of the Committee was not yet present.
Regional Express Financial Plan Model
Mr. Nickels asked to have discussion on this item delayed to a future meeting.
Proposed 1999 Budget and Action Plans
Mr. White, Executive Director, gave his Budget Address to the Committee. (Copy of 1999 Proposed Operating Budget and Action Plans on file.)
Mr. White stated that this will be the first year that the agency will be represented as a mature organization. By the end of 1999, Sounder Commuter Rail will be in place, the majority of Regional Express will be in operation, and the selection of final route and location of Link Electric Light Rail will be completed.
(Ms. Gates arrived.)
As a quorum of the Committee was present and Mr. Miller needed to depart from the meeting, Mr. Nickels asked for approval of the September 3, 1998 Minutes.
It was moved by Ms. Gates, seconded by Mr. Miller, and carried by the unanimous vote of all Committee members present that the September 3, 1998 Committee minutes be approved as presented.
Mr. White concluded his Budget Address to the Committee, by saying that the 1999 Budget will show the agency’s maturity and commitment to accomplishing the goals given to us by the community.
Finance and Administration
Ms. Hendrickson began her presentation of the Finance and Administration Department Budget.
Adjourn
Mr. Nickels stated that a special meeting was to take place in the Council Chambers, so the Finance Committee would need to adjourn early. The 1999 Budget presentation will continue at the next Finance Committee meeting. Meeting was adjourned at 1:38 p.m.
Next Meeting
Thursday, October 1, 1998 from 12:00 to 1:30 p.m. at the King County Council Chambers in the King County Courthouse, 516 Third Avenue, Seattle, Washington.
Recorded by Jane Emerson
Project Assistant
Board Administration
Greg Nickels
ATTEST: Finance Committee Chair
Marcia Walker
Board Administrator
September 17, 1998 Page 2 of 3
Finance Committee Summary Minutes